MANAGEMENT ACCOUNTING PRACTICES AND PERFORMANCE OF MANUFACTURING FIRMS IN THE KUMASI METROPOLIS

ABSTRACT

This study explored the management accounting practices among

manufacturing firms in the Kumasi Metropolis and examined the impact of its

adoption on firm performance. The benefits firms derive from implementing

management accounting practices, factors that affected the extent of use of

management accounting practices and the relationship between the use of

management accounting practices and firm performance are discussed in the

study. A questionnaire was administered to 150 manufacturing firms in the

Kumasi metropolis which elicited 105 useable responses.

The results show that costing system, budgetary system, performance

evaluation system and strategic management accounting are the key

management accounting practices adopted by manufacturing firms within

Kumasi metropolis. Also, the key benefits associated with management

accounting practices of manufacturing firms in Kumasi can be seen from the

following areas: planning the future strategies, tactics and operations,

controlling current activities, measuring and evaluating performance,

optimizing the use of firm’s resources, reducing subjectivity in the decision

making process and improving internal and external communication.

It is evident that key determinants of the extent of adoption of management

accounting practices include market competition, characteristics of the

accounting staff, owner/manager participation and changes in technology.

Overall performance of selected manufacturing firms in Kumasi metropolis is

relatively high. It is therefore recommended that management accounting

practices in the manufacturing firms in Kumasi should be strengthened to

enhance performance.

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APA

AMENYO, F (2021). MANAGEMENT ACCOUNTING PRACTICES AND PERFORMANCE OF MANUFACTURING FIRMS IN THE KUMASI METROPOLIS. Afribary. Retrieved from https://tracking.afribary.com/works/management-accounting-practices-and-performance-of-manufacturing-firms-in-the-kumasi-metropolis

MLA 8th

AMENYO, FRANCISCA "MANAGEMENT ACCOUNTING PRACTICES AND PERFORMANCE OF MANUFACTURING FIRMS IN THE KUMASI METROPOLIS" Afribary. Afribary, 02 Apr. 2021, https://tracking.afribary.com/works/management-accounting-practices-and-performance-of-manufacturing-firms-in-the-kumasi-metropolis. Accessed 25 Nov. 2024.

MLA7

AMENYO, FRANCISCA . "MANAGEMENT ACCOUNTING PRACTICES AND PERFORMANCE OF MANUFACTURING FIRMS IN THE KUMASI METROPOLIS". Afribary, Afribary, 02 Apr. 2021. Web. 25 Nov. 2024. < https://tracking.afribary.com/works/management-accounting-practices-and-performance-of-manufacturing-firms-in-the-kumasi-metropolis >.

Chicago

AMENYO, FRANCISCA . "MANAGEMENT ACCOUNTING PRACTICES AND PERFORMANCE OF MANUFACTURING FIRMS IN THE KUMASI METROPOLIS" Afribary (2021). Accessed November 25, 2024. https://tracking.afribary.com/works/management-accounting-practices-and-performance-of-manufacturing-firms-in-the-kumasi-metropolis